K
ey Takeaways

    The states with the greatest foreclosure activity in November were Delaware, Nevada, New Jersey, and Florida. According to ATTOM, the total volume—including default notices, scheduled auctions, and bank repossessions—rose more than 20 % from a year earlier. Nationwide, many homeowners are finding it difficult to meet housing costs, and the overall foreclosure count remains well below historic peaks.

    Why This Matters to Homebuyers

    Higher foreclosure rates can increase the supply of homes on the market and influence pricing. They also serve as a barometer of the broader housing economy, helping buyers gauge potential costs and risks. The impact varies by state: Delaware’s activity jumped 159 % YoY, Nevada up 26 %, New Jersey 48 %, and Florida 21 %. ATTOM CEO Rob Barber noted that November marks the ninth consecutive month of growth, indicating a persistent trend amid rising costs and shifting economic pressures.

    Homeowners Pressured by Affordability Challenges

    Philadelphia led the nation with the highest foreclosure rate—one unit in every 1,511 homes. The spike is partly due to recent backlogs in county records. Las Vegas, Cleveland, Orlando, and Tampa followed. ATTOM’s Megan Hunt explained that the spread from the Mid‑Atlantic to the Southeast and West reflects nationwide affordability issues, sustained borrowing costs, and local market forces rather than a single regional cause.

    Fast Fact

    Some cities saw declines: Boston, Miami, Sacramento, Riverside, and Denver. Mortgage rates remain high at 6.18 % per Freddie Mac, despite three Fed cuts, and the median price of existing‑home sales in November stayed elevated at $433,175 per Redfin.

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